India has raised concerns about Russia's successive crude production cuts to comply with the Opec+ agreement by curtailing production from assets where Indian state-run firms are stakeholders, two people close to the matter said.
The concerns were voiced during Russian foreign minister Sergey Lavrov's visit to India to attend the G20 Summit in New Delhi over the weekend. Lavrov led the Russian delegation as President Vladimir Putin skipped the meeting.
"The Russians have reduced production as part of Opec+. However, India is not a part of it, yet production is being reduced wherein foreign entities are partners. With Russian production coming down, the volume of oil available in the global market has also come down. With Iranian and Venezuelan oil off the table, the world is being starved of oil.
We have raised the issue at several levels," one of the two people cited above said, requesting anonymity.
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